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15(1)In this Schedule—
" associated company " has the same meaning as in section 302 of the Taxes Act;
" control" has the same meaning as in section 534 of the Taxes Act;
" grantor " has the meaning given by paragraph 1(1) ;
" group scheme" and, in relation to such a scheme, " participating company" have the meanings given by paragraph 1;
" market value " has the same meaning as in Part VIII of the [1979 c. 14.] Capital Gains Tax Act 1979 ;
" qualifying employee" in relation to a company, means an employee of the company (other than one who is a director of the company or, in the case of a group scheme, of a participating company) who is required, under the terms of his employment, to work for the company for at least twenty hours a week;
" scheme shares " has the meaning given by paragraph 6 ; and
" shares " includes stock.
(2)Section 303(3) of the Taxes Act (meaning of "associate") shall have effect in a case where the scheme is a group scheme, with the substitution of a reference to all the participating companies for the first reference to the company in paragraph (ii) of the proviso to that subsection.
(3)Section 533 of the Taxes Act (connected persons) shall apply for the purposes of this Schedule.
(4)For the purposes of this Schedule a company is a member of a consortium owning another company if it is one of a number of companies which between them beneficially own not less than three-quarters of the other company's ordinary share capital and each of which beneficially owns not less than one-twentieth of that capital.
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